11 Aug 2025
⚖️Nasdaq Automation Rule Change for Trade Reporting Compliance
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Equity 7, Section 115 To Introduce a New Feature Within the Nasdaq WorkX Platform That Will Automate the Method for Users To Resubmit, and for the System To Process, Rejected Trade Reports and To Amend the Timeframe for Users To Submit Price Override Requests
Summary
The Nasdaq Stock Market LLC has proposed a new rule to automate the resubmission of rejected trade reports through its WorkX platform. This enhancement aims to streamline the reporting process, improve operational efficiency, and ensure compliance with SEC regulations, ultimately fostering market integrity and protecting investors.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change introduces automation for resubmitting rejected trade reports via the Nasdaq WorkX platform, streamlining compliance with trade reporting regulations. This impacts business operations by reducing manual processes and the likelihood of errors, thereby enhancing operational efficiency. The rule change promotes investment integrity and compliance with SEC requirements.